HAWTHORN BANCSHARES, INC. — Form 8-K
Filed October 30, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
On September 3, 2026, Hawthorn Bancshares completed acquisition of FSC Bancshares/Farmers State Bank for $17.0 million cash plus 413,042 shares of stock, adding 9 branches in northern Missouri. Q3 2026 net income was $7.1 million ($1.01 diluted EPS), up 15.2% YoY; adjusted net income $8.6 million ($1.23 EPS). Total assets grew to $2.14 billion (+20.4% QoQ), loans to $1.69 billion (+19.3% QoQ), deposits to $1.79 billion (+20.3% QoQ), driven by acquisition. Board approved quarterly dividend of $0.21/share and $10M share repurchase authorization.
Why this rating
FSC acquisition is ~13.5% of Hawthorn's market cap ($17M cash on ~$126M market value); adds material 20%+ to assets/loans/deposits. Offset by integration costs ($2.0M Q3) and slight efficiency ratio deterioration, but strong NIM expansion (4.41% vs 3.97% YoY) and adjusted ROE gains (18.17%) indicate solid execution. Transformational for small bank but not balance-sheet-altering.
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